West Oak Capital LLC Lowers Holdings in AbbVie Inc. (NYSE:ABBV)

West Oak Capital LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,903 shares of the company’s stock after selling 180 shares during the period. West Oak Capital LLC’s holdings in AbbVie were worth $1,758,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ABBV. Pine Haven Investment Counsel Inc grew its holdings in AbbVie by 0.3% during the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after purchasing an additional 52 shares during the period. Frisch Financial Group Inc. increased its position in shares of AbbVie by 0.8% in the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock valued at $1,187,000 after buying an additional 53 shares in the last quarter. First Citizens Financial Corp raised its stake in AbbVie by 0.9% during the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after buying an additional 53 shares during the period. Sunflower Bank N.A. lifted its holdings in AbbVie by 0.4% during the third quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock worth $2,710,000 after acquiring an additional 53 shares in the last quarter. Finally, Professional Financial Advisors LLC lifted its holdings in AbbVie by 3.4% during the third quarter. Professional Financial Advisors LLC now owns 1,638 shares of the company’s stock worth $323,000 after acquiring an additional 54 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of ABBV stock opened at $188.87 on Friday. The business has a fifty day simple moving average of $194.44 and a 200 day simple moving average of $177.76. The company has a market cap of $333.52 billion, a P/E ratio of 56.04, a P/E/G ratio of 2.66 and a beta of 0.63. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the previous year, the firm posted $2.91 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts forecast that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.28%. AbbVie’s dividend payout ratio is currently 183.98%.

Insiders Place Their Bets

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ABBV shares. Piper Sandler lifted their price objective on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. UBS Group boosted their price target on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Wells Fargo & Company increased their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, BMO Capital Markets increased their price target on shares of AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.47.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.